This is a triplex I want to move into for about one year to satisfy FHA requirements and then I'd be looking for another triplex or quadplex to repeat the process.Triplex (1 4BR and 2 2BR)Asking price: 180kRents: 900 + 750 + 750 = 2,400 (Actual would be 1,650 because I'd be living in one unit)PITI: 1,300Other expenses breakdown: Utilities (15%): 360Maintenance (10%): 240 Vacancies (5%): 120Self-managed (0%): 0Total: 7201650 - 1300 - 720 = (370)I would begin showing a negative cashflow of ($4,440) for the first year, then after moving out, that number would go to:2,400 - 1300 - 720 = 380 (potentially more than $380 because the property is in good condition and there isn't really much to repair)Meaning that after a down payment of $6,300 plus the $4,440 of negative cashflow I will lose the first year, that leaves me at $10,740 all-in.

@John Errico - I'm frequently in North Bergen, right next to Union City!

It clogs up frequently and according to the plumber who just snaked it, the issue is likely paper getting hung up on the rusty insides of the pipes. 

"Speak with a real estate attorney" is a refrain heard quite frequently on the BP forums and podcasts. 

I have a small full time crew and hire subs frequently. 

Get the unit fully occupied then find another property and repeat.

We currently own a home and look to lease that out in the future and find a fixer upper to move into and repeat that idea every couple years.  

In one of the REI meetings I attended, they were discussing the stock market experiencing a downfall and the majority of them repeatedly stated..."

Once I flip the home (using the 70% rule), I am hoping to not only profit enough for another down payment on an owner occupied property that I plan on staying in, but also have enough to repeat the flipping process. 

Repeat this with two until you can have three at a time.